e.l.f. Beauty (NYSE:ELF) Stock Price Up 5.2% - Should You Buy?

Key Points

• e.l.f. Beauty's stock price increased by 5.2%, reaching $122.41, despite a significant drop in trading volume compared to its average.
• Analysts have mixed opinions on the stock, with upgraded targets from B. Riley ($150) and Truist Financial ($130), while UBS cut its target to $112.
• The company reported earnings of $0.89 per share, exceeding expectations and marking a 9.0% year-over-year revenue increase to $353.74 million.

e.l.f. Beauty (NYSE:ELF - Get Free Report) shares traded up 5.2% on Monday . The company traded as high as $121.71 and last traded at $122.41. 163,222 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,698,991 shares. The stock had previously closed at $116.37.

Analysts Set New Price Targets

A number of equities analysts recently commented on ELF shares. Truist Financial increased their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 6th. UBS Group dropped their price objective on e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft upgraded e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Friday, August 8th. The Goldman Sachs Group increased their price objective on e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and an average price target of $123.81.

e.l.f. Beauty Stock Down 3.2%

The stock has a market cap of $6.91 billion, a P/E ratio of 68.56, a PEG ratio of 2.97 and a beta of 1.57. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $118.68 and a 200-day simple moving average of $89.06.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same period in the prior year, the business earned $1.10 earnings per share. e.l.f. Beauty's revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, insider Kory Marchisotto sold 11,860 shares of e.l.f. Beauty stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the completion of the transaction, the insider directly owned 159,799 shares of the company's stock, valued at approximately $18,466,372.44. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tarang Amin sold 24,533 shares of e.l.f. Beauty stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $2,835,033.48. Following the transaction, the chief executive officer directly owned 188,991 shares of the company's stock, valued at approximately $21,839,799.96. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,219 shares of company stock valued at $15,098,642 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of e.l.f. Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Louisiana State Employees Retirement System boosted its position in e.l.f. Beauty by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock worth $1,979,000 after acquiring an additional 100 shares during the last quarter. Securian Asset Management Inc. boosted its position in e.l.f. Beauty by 2.4% during the 2nd quarter. Securian Asset Management Inc. now owns 4,327 shares of the company's stock worth $538,000 after acquiring an additional 100 shares during the last quarter. State of Michigan Retirement System boosted its position in e.l.f. Beauty by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 13,600 shares of the company's stock worth $1,692,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC boosted its position in e.l.f. Beauty by 11.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 993 shares of the company's stock worth $124,000 after acquiring an additional 105 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock worth $39,000 after acquiring an additional 117 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.